Daily Newsletter

17 November 2023

Daily Newsletter

17 November 2023

Citi Properties launches Aveline Residences project in UAE

The community will feature a range of retail and dining options.

vishnupriya November 17 2023

Global developer Citi Properties has unveiled a new high-end development complex, Aveline Residences, in Jumeirah Village Circle, United Arab Emirates (UAE).

Aveline Residences will feature 263 units and is set to be handed over in the fourth quarter (Q4) of 2026, as reported in a press release published via Zawya.

The project aims to provide a range of unit options, with each unit spanning from 453,70ft² up to 1391,99ft².

Citi Developers managing director Malik Taha said: “As this exceptional property is nestled in the vibrant landscape of Jumeirah Village Circle, we are confident that Aveline Residences will not only redefine luxurious living but also play a pivotal role in propelling community living in Dubai.

“Our commitment to innovation and thoughtful design is a sign of Dubai’s vision for a progressive and sustainable future, making Aveline a cornerstone in the city’s continued success.

“We are optimistic that Dubai’s strategic location, investor-friendly policies, and most importantly the safety and security that the metropolis offers will serve as a magnet for our new launch.”

Residents will have access to a range of retail and dining options in the community, as well as an easy-to-use commute system.

Aveline Residences’ architectural design focuses on a mix of interior and outdoor spaces.

The residential project will provide a broad selection of amenities, including a beach pool, padel court, sauna, and gym.

Saudi Arabia construction market dynamics

Per GlobalData, between 2024 and 2027, the Saudi Arabian construction industry is projected to register an AAGR of 5% in real terms, supported by investments in various sectors such as data centers, logistics zones, renewable energy, housing, and tourism projects as part of the Kingdom’s ‘Vision 2030’ economic diversification plan. Construction activity in the energy and utilities sector is estimated to grow at an AAGR of 5.6%, supported by the government’s aim to increase the renewable energy capacity and achieving zero net carbon emissions by 2060.

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